Change in the world of social media is inevitable. In fact, no one ever imagined that this online communication platform would be as widespread as it is today. For example, did you know that Facebook has more than 1.71 billion regular users?
If all these people united to form a country, then Facebook would have the highest population in the world. It is also important to note that everyone is jumping on the social media bandwagon even seniors. Currently, the elderly are the fastest growing demographic on Twitter. These changes in the last few decades raise a serious question. Where Do You See a Life of Social Media In 2030? Here are some of the answers to this question.
– Social Media Will Take Over the World of Banking
Did you know there are more people who own a mobile phone than they are those who own a toothbrush? This rise in the use of cellular phones is also fueling the increase in the number of people using mobile banking. In fact, a new study shows that 75% of millennials rely on mobile banking to some extent while 27% of them rely on it completely. In the future, social media will become part of your mobile banking world.
Banks will use your profile to verify your identity for transactions online. Sending money to your friends and followers will also happen through social media. Remember, you can use an email to send money to family and friends through PayPal. Now, it will be through a Facebook or Twitter profile instead of an email. Companies like Facebook and Google are already working hard to ensure that this concept becomes a reality in the next few years.
– The Ownership of Social Media Will Change
Today, many social media giants exist like Facebook, Google Plus, YouTube, Twitter, Instagram, WhatsApp, and SnapChat. However, some of them are under the umbrella of one company. For example, one company owns Facebook, Instagram, and WhatsApp. Another firm owns Google Plus and YouTube. Soon, all the major social media networks will be under a small number of firms. That is the reality of tomorrow. It is important to note that Facebook tried to buy Snapchat for $3 billion in 2013. Such bids show that the major players in this industry are trying to monopolize it.
– The Content of Social Media Will Change
The content will also change drastically. For example, people are now freer than ever before to determine what they see on their news feed. Surprisingly, you can also decide which type of advertisements you would like to see. The organic presence of company profiles on your timeline will also reduce drastically as people would like to see more posts from their friends than from corporate bodies.
That means companies will either have to invest more in paid advertising on social media or turn to product placement advertising. Lastly, social media giants will incorporate new apps into their platforms to prevent people from leaving their site. They include digital assistants and instant articles among others.
– Governing Countries Will Never Be the Same Again
Revolutions all over the world are happening with the aid of social media. Platforms like Facebook, Twitter, and YouTube are giving a voice to the oppressed. Through them, people agitate for change in government and world order. They communicate on where to meet. They also use social media to discuss and decide on what action to take in support of their cause.
However, some organizations and groups use these platforms to spread hate and encourage violence. That should be a concern to many people and governments. By 2030, world leaders would not be able to ignore or prevent the power of social media. Instead, they would only be able to respond to it as opposed to stopping it.
Published: September 8, 2015